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Commerce Secretary Gina Raimondo made a fresh pitch for President Joe Biden’s plan to raise corporate taxes, saying lower rates have failed to have much impact and that the chief executive officers she speaks to privately are “much more reasonable” on taxes than the trade groups who are aggressively lobbying against increases.

Refunds have averaged $3,602, and amount to the biggest incoming cash flow day of the year for 29% of recipients, according to the institute’s study of bank and credit card customer data from 2015-17, before the 2017 Republican tax law took effect.

U.S. multinationals face a “tricky situation” in trying to plot a tax strategy around the new base erosion and anti-abuse tax (BEAT) in the 2017 U.S. tax law, a UPS official said.

Like the trucking industry, the port authorities and Class I railroads believe the Tax Cuts and Jobs Act will benefit their modes of transportation, according to associations that represent them.

From large carriers to single-truck fleets, many in the industry are analyzing how the federal Tax Cuts and Jobs Act will impact their income and are formulating strategies to adapt to the new rules — including the possibility of restructuring their companies, accountants said.

Tax breaks designed to help the private sector finance infrastructure projects were not included in a Republican tax overhaul bill President Donald Trump would consider by the end of the year.

President Donald Trump and Republican leaders launched an urgent effort to get a major legislative win this year, announcing a long-awaited tax plan that will immediately set off a fight over how much top earners should pay.

President Donald Trump was due to address the National Association of Manufacturers on Sept. 29, and discuss tax reform in a bid to boost economic growth.

The marching orders to Congress from President Donald Trump in a fiery speech in Missouri Aug. 30 were clear: reform the country’s tax code.